VANCOUVER, Aug. 5, 2014 /PRNewswire/ - Ritchie Bros. Auctioneers Incorporated
(NYSE and TSX: RBA, the "Company" or "Ritchie Bros."), the world's
largest industrial auctioneer, announces net earnings of $38.6 million,
or $0.36 per diluted share1, for the three months ended June 30, 2014. This is a 30% increase
compared to net earnings of $29.8 million, or $0.28 per diluted share,
generated in the same quarter last year. The Company's revenues for the
second quarter of 2014 increased 11% to $141.8 million compared to
$128.3 million for the same period in 2013, primarily as a result of an
increase in gross auction proceeds ("GAP")2. Selling, general and administrative expenses, excluding depreciation
and amortization, for the second quarter of 2014 increased 2% compared
to the same period in 2013. Net earnings for the quarter also benefited
from the effects of a favorable tax rate.

For the six months ended June 30, 2014, net earnings were $52.9 million,
or $0.49 per diluted share. This compares to net earnings of $43.8
million, or $0.41 per diluted share, for the six months ended June 30,
2013, representing a 21% increase in net earnings. The Company's
revenues during the first half of 2014 grew 4% to $240.4 million
compared to $230.4 million in the first half of 2013.

"Revenue and earnings growth was strong in the quarter and we fully
demonstrated the leverage in the business model with our continued
expense control," said Rob McLeod, Chief Financial Officer. "Our
record second quarter revenue was bolstered by strong auction activity
across North America - especially in Canada. The mix and age of
equipment sold at our auctions also continued to improve, enhancing the
average price per lot."

Ravi Saligram, Chief Executive Officer, added: "We're pleased to see
the level of growth in our auction business, which we believe continues
to have significant growth prospects. Over the next several quarters,
I look forward to focusing on how we can grow the Ritchie Bros.
business and expand our market share by further penetrating our
existing markets, with particular focus on the U.S. and Europe. I am
also excited by our newly developed EquipmentOne solution, and plan to
put a significant focus on evolving our strategy to achieve its full
potential."

During the second quarter of 2014, the Company conducted 68 unreserved
industrial auctions in 14 countries throughout North America, Central
America, Europe, the Middle East, Australia and Asia.

Quarterly dividend

The Company also announces a 7.7% increase in its quarterly cash
dividend. The quarterly cash dividend declared increases to $0.14 per
common share, payable on September 12, 2014 to shareholders of record
on August 22, 2014.

Gross Auction Proceeds and revenues

GAP was $1.2 billion for the second quarter of 2014, a quarterly record
for the Company and a 15% increase compared to the same quarter of
2013.

EquipmentOne, the Company's online equipment marketplace, contributed
$29.6 million of gross transaction value ("GTV")2 to GAP in the second quarter of 2014 compared to $29.1 million3 in the second quarter of 2013. GTV is comprised of the value of the
items sold on EquipmentOne and the fees earned through EquipmentOne's
buyers' premiums.

For the six months ended June 30, 2014, GAP was $2.1 billion, which is
9% higher than in the first half of 2013. EquipmentOne contributed
$48.0 million in the first half of 2014 compared to $49.5 million4 in the first half of 2013.

Revenues grew in the three- and six-month periods ended June 30, 2014
compared to the same periods in 2013 as a result of an increase in GAP.
Revenue rates (revenues as a percentage of GAP) declined due to the
performance of the Company's underwritten business. The Company's
revenue rate during the second quarter of 2014 was 11.54%, which is
consistent with the Company's historical average, but a decrease from
the 11.96% revenue rate achieved in the same quarter of 2013. The
Company's revenue rate during the six months ended June 30, 2014 was
11.53% compared to 12.01% during the same period in 2013.

The Company's underwritten business, which is comprised of guarantee and
inventory contracts, represented 32% of GAP in the second quarter of
2014, compared to 27% in the second quarter of 2013, and 29% of GAP in
the first half of 2014 compared to 24% in the first half of 2013.

____________________________1 Net earnings and diluted earnings per share have been presented
excluding non-controlling interest in Ritchie Bros. Financial Services,
and represent only those amounts attributable to equity holders of the
parent, to conform with the presentation adopted in our consolidated
financial statements.2 See "Non-GAAP measures" below for a description of this measure.

Online bidding statistics

Ritchie Bros. sold approximately $840 million of equipment, trucks and
other assets to online buyers during the first half of 2014, a 17%
increase compared to the same period of 2013. Online buyers represented
40% of GAP during the first half of 2014. Internet bidders comprised
over 60% of the total bidder registrations at Ritchie Bros. industrial
auctions in the first half of 2014.

Upcoming auctions

There are currently 70 unreserved auctions on the 2014 Ritchie Bros.
auction calendar at rbauction.com, including auctions in North America, Central America, Europe, the
Middle East and Australia.

Earnings Conference Call

Ritchie Bros. is hosting a conference call to discuss its financial
results for the quarter ended June 30, 2014, at 8:00 am Pacific Time /
11:00 am Eastern Time on August 5, 2014.

The term gross auction proceeds represents the total proceeds from all
items sold by Ritchie Bros, including auction proceeds and
EquipmentOne's gross transaction value. The term gross transaction
value represents the total value of items sold on EquipmentOne and the
fees earned by the Company through EquipmentOne's buyers' premiums. The
Company's definitions of GAP and GTV may differ from those used by
other participants in its industry. GAP and GTV are important measures
the Company uses in comparing and assessing its operating performance.

The Company believes that revenues, which is the most directly
comparable measure in its consolidated income statements, and certain
other line items, are best understood by considering their relationship
to GAP.

Revenues are earned by Ritchie Bros. in the course of conducting its
auctions and online marketplace transactions, and consist primarily of
commissions earned on consigned equipment and net profit on the sale of
equipment purchased by the Company and sold in the same manner as
consigned equipment.

____________________________3 GTV for the quarter ended June 30, 2013, disclosed as $26.8 million in
the 2013 second quarter press release dated August 6, 2013, has been
revised in the presentation above to include $2.3 million in buyers'
premiums for a total $29.1 million contribution to GAP.4 GTV for the first half of 2013, disclosed as $45.5 million in the 2013
second quarter press release dated August 6, 2013, has been revised in
the presentation above to include $4.0 million in buyers' premiums for
a total $49.5 million contribution to GAP.

About Ritchie Bros.

Established in 1958, Ritchie Bros. is the world's largest seller of used
equipment for the construction, transportation, agricultural, material
handling, energy, mining, forestry, marine, real estate and other
industries. Ritchie Bros.™ solutions make it easy for the world's builders to buy and sell
equipment with confidence, including through the core business of
unreserved public auctions and a secure online equipment marketplace. Ritchie Bros. Auctioneers® unreserved auctions are conducted live, with bidding on-site and
online at rbauction.com. Ritchie Bros. Auctioneers conducts hundreds of unreserved public
auctions each year, selling more equipment to on-site and online
bidders than any other auction business in the world. The Ritchie Bros. EquipmentOne™ online marketplace can be accessed at EquipmentOne.com. Ritchie Bros. also offers a range of value-added services, including
equipment financing available through Ritchie Bros. Financial Services
(rbauctionfinance.com). Ritchie Bros. has operations in more than 25 countries, including 44
auction sites worldwide. Learn more at RitchieBros.com.

Forward-looking Statements

The discussion in this press release relating to future events or
operating periods contains forward-looking statements that involve
risks and uncertainties, including, in particular, statements regarding
future results, including growth prospects and potential. These risks
and uncertainties include: the numerous factors that influence the
supply of and demand for used equipment; fluctuations in the market
conditions and values of used equipment; seasonal and periodic
variations in operating results; actions of competitors; the market
acceptance of the Company's recent initiatives including Ritchie Bros.
EquipmentOne; economic and other conditions in local, regional and
global markets; and other risks and uncertainties as detailed from time
to time in the Company's SEC and Canadian securities filings, including
the Company's Management's Discussion and Analysis of Financial
Condition and Results of Operations for the year ended December 31,
2013, available on the SEC, SEDAR and the Company's websites. Actual
results may differ materially from those forward-looking statements.
Forward-looking statements are made as of the date of this press
release and the Company does not undertake any obligation to update the
information contained herein unless required by applicable securities
legislation.

Condensed Consolidated Interim Income Statements

(Amounts in table and related footnotes are in USD

Three months ended

Three months ended

thousands, except share and per share amounts)

June 30, 2014

June 30, 2013

Gross auction proceeds (1)

$

1,229,204

$

1,072,942

Revenues

$

141,835

$

128,322

Direct expenses

17,616

15,551

124,219

112,771

Selling, general and administrative expenses:

SG&A expenses excluding depreciation and amortization

61,513

60,417

Depreciation and amortization

10,979

10,719

72,492

71,136

Earnings from operations

51,727

41,635

Other income (expense):

Foreign exchange loss

(212)

(48)

Gain on disposition of property, plant and equipment

258

130

Other income

688

843

734

925

Finance income (costs):

Finance income

617

785

Finance costs

(1,345)

(2,097)

(728)

(1,312)

Earnings before income taxes

51,733

41,248

Income taxes

12,598

11,220

Net earnings

$

39,135

$

30,028

Net earnings attributable to:

Equity holders of the parent

38,607

29,795

Non-controlling interest

528

233

39,135

30,028

Attributable to equity holders of the parent:

Net earnings per share - basic

$

0.36

$

0.28

Net earnings per share - diluted

$

0.36

$

0.28

Weighted average shares outstanding

107,225,226

106,713,312

Diluted weighted average shares outstanding

107,547,720

107,002,439

(1)

EquipmentOne buyers' premium fees of $2.3 million have been included in
GAP for the three months ended June 30, 2014, whereas GAP for the three
months ended June 30, 2013 excludes $2.3 million of EquipmentOne
buyers' premium fees earned in that comparative period.

Condensed Consolidated Income Statements

(Amounts in table and related footnotes are in USD

Six months ended

Six months ended

thousands, except share and per share amounts)

June 30, 2014

June 30, 2013

Gross auction proceeds (1)

$

2,084,581

$

1,918,295

Revenues

$

240,423

$

230,380

Direct expenses

27,916

24,912

212,507

205,468

Selling, general and administrative expenses:

SG&A expenses excluding depreciation and amortization

121,485

121,186

Depreciation and amortization

21,576

21,039

143,061

142,225

Earnings from operations

69,446

63,243

Other income:

Foreign exchange gain

1,079

47

Gain on disposition of property, plant and equipment

329

119

Other income

1,495

829

2,903

995

Finance income (costs):

Finance income

1,125

1,332

Finance costs

(2,764)

(3,861)

(1,639)

(2,529)

Earnings before income taxes

70,710

61,709

Income taxes

17,057

17,635

Net earnings

$

53,653

$

44,074

Net earnings attributable to:

Equity holders of the parent

52,864

43,784

Non-controlling interest

789

290

53,653

44,074

Attributable to equity holders of the parent:

Net earnings per share - basic

$

0.49

$

0.41

Net earnings per share - diluted

$

0.49

$

0.41

Weighted average shares outstanding

107,136,745

106,677,387

Diluted weighted average shares outstanding

107,439,092

107,008,851

(1)

EquipmentOne buyers' premium fees of $3.9 million have been included in
GAP for the six months ended June 30, 2014, whereas GAP for the six
months ended June 30, 2013 excludes $4.0 million of EquipmentOne
buyers' premium fees earned in that comparative period.